The danger of leaving your money on an exchange!

[Javier2006 51]

One of the biggest dangers when you leave your cryptocurrencies on exchanges is that they can be hacked and you can be left with nothing.

[Faraor 42]

Ofcourse storing/holding your funds in a cryptocurrency exchange is dangerous. Every exchange even the most popuar and biggest exchanges has a risk to be hacked. But personally i use yobit exchange and store there a small amount of money. Till now i did not face any problem with the safety of my funds or deposits/withdrawals.

[Sanjana321 6]

 

On 3/25/2020 at 8:58 AM, George10 said:

Its a mistake to leave our money on exchange sites or treat them like wallets where to store crypto because anything can happen what if they are hacked or tries to close down without prior notice, just my point of views thanks.

It is correct my friend because there is a great chance of getting hacked because this exchange sites would not have that much security facilities or if they closed without giving a proper announced can leads to a great risk so never make a mistake like leaving your money in the exchange.

[kindersmen 66]

It depends on how much you keep on the exchange. It is advisable not to hold large deposits. You must understand that at any time I can suspend the withdrawal of funds and that's it.

[singlajatin65 26]

it is danger to leave your money at fraud exchanges you can sign up at yobit.net this is the most stable and friendly user exchanges in the world

[ramonn22 731]

Hello, interesting, the topic that you propose by all those who have been in this world of cryptocurrencies for a while, it is well known that it is not safe to have your cryptocurrencies in an exchange where you do not have your private keys, which are very important to have full control over the assets
greetings to all

[Badboyalexa 65]

I appreciate the senior member honny143 , I agree, but we can't search before investing money in exchange, because we can't believe without any information, I don't understand this fraud exchange, because there are so many legitimate exchanges online.  

[maap0895 50]

Thanks for the warning, it is important to always stay informed of the different occurrences that we can find and that can be harmful to others. We have to stick together in order to eliminate scammers.

[Gwataman 147]

yes coins are never to be leaved on exchange the best wayis to store it in a wallet thatyou trust

[Emma William 2399]

As for me I do not like to leave my money on these platforms! Because, as we know, there are many platforms that have closed without any reason and without any prior announcement, and many people have lost their money because of their trust! I think it is better for us to withdraw our funds from all platforms when we do not need them

[Captin 0]

You are right, my friend. We should not leave our money in the exchange sites, this is a great danger in addition to that there are a large number of fraudsters waiting to take advantage of the opportunity

[nestor14 208]

Having all your income in a single wallet is a great risk, it is better to use different wallets to have part of the money in each of them, or if possible change some of your income to fiat money and have it in a bank or payment processor reliable, you also have to bear in mind that you cannot have money in any wallet that comes out, if there are international companies with years in this world such as coinbase, binance, blockchain, sometimes those new wallets are dangerous

[Joseerm54 48]

If it is risky to leave money on exchanges, especially those that are not well known and generate little trust. It is always better to leave the money stored in a wallet where you only have your manipulation of your money and I recommend that you put a strong password and activate the double security factor. And something I recommend is never use a newly launched exchange without first finding out about it. Since there are many scammers who create exchanges that work like ponzi schemes (pyramid scam). Be very careful with that

If it is risky to leave money on exchanges, especially those that are not well known and generate little trust. It is always better to leave the money stored in a wallet where you only have your manipulation of your money and I recommend that you put a strong password and activate the double security factor. And something I recommend is never use a newly launched exchange without first finding out about it. Since there are many scammers who create exchanges that work like ponzi schemes (pyramid scam). Be very careful with that

[bitcoin-shark 1928]

obviously keeping your altcoins on a custodial wallet or even worse on an exchange is very risky, it means entrusting our savings, values, crypto to others who may be in good faith or not, so my advice is to use only the large exchanges that they are more reliable and leave altcoins on them only for the time strictly necessary

[abderrazek1980 32]

This is dangerous talk and drops trust from the platforms because members are profiting from having large amounts of money on the platforms

[FeDa2110 76]

Leaving our assets in an exchange is undoubtedly one of many unsafe decisions for our assets.
There are several reasons to argue this situation, to begin with the simple fact that by not having the security phrases and other information your assets in some way do not belong to you, we are also exposed to hacking the account and even the same exchange as in the present is still happening, the disappearance of the exchange, maintenance of the platform without warning, ddos attack, and some others.
Even the safest exchanges are affected by these situations, although improvements are made in the security and protection offered to each user, being platforms with a lot of stored money they are tempting for cybercrime. We must not forget that they are not cybersecurity companies.
It is not very complicated to withdraw our assets from the exchanges once the trading sessions are over, maybe not all but a large amount, better to be cautious than having to go through the loss of our assets.

[sandrofrenimoto 44]

i still remember my 0,8btc in Mt. Gox exchange...but if you want trade cryptocurrency you haven't a different way, i have divided all i have in 3 exchanges

[Maaz sultan 265]

Therefor i suggest every high level crypto investors that use a secure crypto wallet because wallet are also many kinds use hardware wallet which is a highly secure option and for new users you need to choose a secure exchange for collecting your earned crypto currencies  and i never suggest you an separate wallet because you are on initial stage and your chances of make any mistake with your wallet and lose your coins is high .

[Kami505030 1617]

First i would like to give suggestion, never put all currencies in one exchange, and second always keep your phrases and seeds safe. If someone lost pasword or phrase of an exchange so there will be huge loss for you.

[Ecoloco2020 55]

Hello, there are many exchanges, I think that the best known or the largest are safe, you have to be careful with known pcoos or those that offer large profits, and not have many amounts in one, divide into several platforms for security

[Melodyc75 56]

You are right, the exchanges are not very trustworthy, look at the OKEx exchange today, they stopped their withdrawals, several lost, but it is a risk that we must all take into account, since neither binance, Uniswap, etc; They are free of that, we know that in exchanges there are benefits and you can increase your capital, but with that risk of losing, if the page falls, on the other hand having it in a personal wallet, would not increase your savings and you would only have it as a savings of cryptocurrencies.

[Jack764 1841]

Yes, you are right. The most important thing in the wallet is the private key, which is the safety valve for the wallet that if you lose it, you lose your wallet.  We also have to not believe all strangers because they may be fraudsters and know that there is no fantastic and very large profit for a little money because if there was a large profit, the person who offered you the offer would have used it and made money instead of giving you the secret, but I know that this  scam.  The best thing to do is to leave the money you invest in only in the platform or wallet and withdraw the rest to your bank account.

[ChupriN03 53]

OK well i am beginner here but i think that the danger that runs leaving your money in the exchanges it's about the possible devaluation of the currency that you have! so it's to dangerous for you and your wallet! you need check everytime the status of the currency!

[GalaxyGuard 352]

I truly dont think there is a very danger peril except if one can truly comprehend what they are doing on the grounds that there is many individuals that are making an honest effort to ensure their record and in the end that is the way they are not as acceptable on what they do there is many individuals out there that are so certain not to set up a safety effort but rather the tricksters of today are astute that they can even send you connections and you will give them each data of your record

[carybe69 74]

I believe that our funds are not safe in any place where we do not have in our possession, the secret keys of our accounts. I read this morning that the investigators already fell on Okex. This is certainly worrying!